GK
BANKING AWARENESS AND SEBI
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Detailed explanation-1: -The pre-Independence phase which is before 1947. The second phase – 1947 to 1991. And the third phase from 1991 and beyond.
Detailed explanation-2: -The nationalization of Indian banks happened in two phases. In the first phase, 14 banks were nationalized on July 19, 1969. In the second phase, 6 banks were nationalized in 1980.
Detailed explanation-3: -In the year 1980 the second round of Nationalization started where 6 more commercial banks like Punjab and Sind bank, Oriental Bank of Commerce, Corporation Bank, Andhra Bank, New Bank of India and Vijaya Bank got nationalized.
Detailed explanation-4: -It was on July 19, 1969, when then prime minister Indira Gandhi announced the nationalisation of 14 banks. Nationalisation of banks in India: Banks play a crucial role in the growth of economy as they deal with the money. Banks provide guarantee to keep our money safe and in return, give interest.